Consolidated financial statement of the Eurosystem as at 24 July 2015

28 July 2015

Items not related to monetary policy operations

In the week ending 24 July 2015 gold and gold receivables (asset item 1) remained unchanged.

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) decreased by EUR 1.9 billion to EUR 262.1 billion, on account of customer and portfolio transactions and US dollar liquidity-providing operations (see below).

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
23 July 2015  7-day US dollar liquidity-providing reverse transaction USD 658 million USD 358 million

The liquidity-providing transactions were conducted by the Eurosystem in connection with the standing swap arrangement that the European Central Bank has with the Federal Reserve System.

The holdings by the Eurosystem of marketable securities other than those held for monetary policy purposes (asset item 7.2) decreased by EUR 0.5 billion to EUR 360.5 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.1 billion to EUR 1,052.4 billion. Liabilities to general government (liability item 5.1) increased by EUR 45.9 billion to EUR 120.3 billion.

Items related to monetary policy operations

The Eurosystem’s net lending to credit institutions (asset item 5 minus liability items 2.2, 2.3, 2.4, 2.5 and 4) increased by EUR 1.3 billion to EUR 425.3 billion. On Wednesday, 22 July 2015, a main refinancing operation (asset item 5.1) of EUR 75.5 billion matured and a new one of EUR 75.2 billion, with a maturity of seven days, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.3 billion (compared with EUR 0.1 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 117.1 billion (compared with EUR 118.6 billion in the previous week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 9.5 billion to EUR 514.7 billion. The table below provides the detailed breakdown of asset item 7.1 into the different portfolios. All portfolios are accounted for at amortised cost.

Monetary policy securities portfolios Reported value as at 24 July 2015 Difference compared with 17 July 2015 – purchases Difference compared with 17 July 2015 – redemptions
Covered bond purchase programme 1 EUR 22.5 billion - -EUR 0.3 billion
Covered bond purchase programme 2 EUR 10.8 billion - -
Covered bond purchase programme 3 EUR 101.7 billion +EUR 1.5 billion -
Asset-backed securities purchase programme EUR 9.5 billion +EUR 0.1 billion -
Public sector purchase programme EUR 237.9 billion +EUR 10.3 billion -
Securities Markets Programme EUR 132.3 billion - -EUR 2.1 billion

Current accounts of euro area credit institutions

As a result of all transactions, the current account position of credit institutions with the Eurosystem (liability item 2.1) decreased by EUR 27.9 billion to EUR 386.5 billion.

Assets (EUR millions) Balance Difference compared with last week due to transactions
Totals/sub-totals may not add up, due to rounding
1 Gold and gold receivables 364,458 0
2 Claims on non-euro area residents denominated in foreign currency 289,356 −1,292
  2.1 Receivables from the IMF 78,408 −2,050
  2.2 Balances with banks and security investments, external loans and other external assets 210,948 758
3 Claims on euro area residents denominated in foreign currency 40,013 −23
4 Claims on non-euro area residents denominated in euro 21,293 −18
  4.1 Balances with banks, security investments and loans 21,293 −18
  4.2 Claims arising from the credit facility under ERM II 0 0
5 Lending to euro area credit institutions related to monetary policy operations denominated in euro 542,575 −170
  5.1 Main refinancing operations 75,150 −387
  5.2 Longer-term refinancing operations 467,096 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 329 217
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 139,668 267
7 Securities of euro area residents denominated in euro 875,187 8,970
  7.1 Securities held for monetary policy purposes 514,659 9,481
  7.2 Other securities 360,528 −511
8 General government debt denominated in euro 25,173 −470
9 Other assets 227,435 −1,077
Total assets 2,525,159 6,187
Liabilities (EUR millions) Balance Difference compared with last week due to transactions
Totals/sub-totals may not add up, due to rounding
1 Banknotes in circulation 1,052,396 −65
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 503,815 −29,364
  2.1 Current accounts (covering the minimum reserve system) 386,528 −27,902
  2.2 Deposit facility 117,148 −1,440
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 139 −23
3 Other liabilities to euro area credit institutions denominated in euro 5,267 98
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 181,382 36,388
  5.1 General government 120,320 45,911
  5.2 Other liabilities 61,062 −9,522
6 Liabilities to non-euro area residents denominated in euro 37,962 −2,200
7 Liabilities to euro area residents denominated in foreign currency 2,520 212
8 Liabilities to non-euro area residents denominated in foreign currency 5,312 374
  8.1 Deposits, balances and other liabilities 5,312 374
  8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 59,456 0
10 Other liabilities 211,233 743
11 Revaluation accounts 367,423 0
12 Capital and reserves 98,393 0
Total liabilities 2,525,159 6,187

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